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Beyond the expected

Agents and renters

By bsdjdct - 19 March 2010 71

I’m recently back in the rental market, just selling and waiting to buy and build on ‘to be released land’.

I’ve rented with a company in Gungahlin and couldn’t believe how completely dodgy these agents were and how terrible they treated renters.

My rent ended up being different to what was advertised, something to do with monthly, but I couldn’t work out the monthly amount to be the same as the weekly amount the agent gave me. It ended up being $50 more per week. Didn’t matter which way I calculated it, M – times- 12 – divide by – D – times – 7.. still didn’t work out. When I questioned the agent, of course after I signed the lease.. All she could tell me was “the computer works it out”. I asked her to pull out her calculator and tell me which calculation works it out to be the weekly amount initially quoted.. She couldn’t.

And of course I couldn’t get on to the Rental Tenancy Help Line….. It would be great if they were better funded by the Government.

Anyway, with some maintenance requests not being attended to we decided moved… And the new place isn’t any better. We’re great tenants, waiting for our house to be built and we have to put up with rude Agent representatives…Who treat us like second class citizens because we’re renting….

I wonder, now there is a database for bad tenants, is there one for bad Agents???

What’s Your opinion?

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71 Responses to
Agents and renters
Mothy 2:59 pm 19 Mar 10

Monthly rent – Weekly Rent x 4.3.

troll-sniffer 2:04 pm 19 Mar 10

Well well well opportune time to notice this:

In my City News that I just picked up and riffled through, an ad for a major RE agent in the area is advising me that they’ve been managing residential property for over ten years, have professional property managers (woo-hoo) they know the market and the legislation and they know people to boot. They assert that they manage homes competently to ensure their clients’ investments perform at full potential.

So there ya go, not a word about the meat at the end of the rental stick, the tenants.

But look on the bright side, if you point out to your mob that this other mob can manage homes competently then perhaps your mob will try and compete with this mob. Unless your mob IS this mob in which case you’re stuffed mate. (page 32 of City News for those who have a copy)

eh_steve 12:36 pm 19 Mar 10

So what exactly is the calculation you used?

If you multiply the monthly amount by 12, and then divide that figure by 52.177, you should be pretty close to the quoted weekly amount, give or take a few cents.

motleychick 12:27 pm 19 Mar 10

Holden Caulfield said :

Haha, “computer says no!”


CoffinRX2 11:59 am 19 Mar 10

Why did you sign the lease, which is a legal document without understanding something as simple as the rent being different than what was offered?

Also I’d advise never to rent through the Home Loan centre

trevar 11:17 am 19 Mar 10

I recall being able to complain to the REIACT about unprofessional conduct of a property manager a few years back, but I can’t see anything about that on their website now. What you’re talking about seems more like laziness and potential incompetence than unprofessional conduct, so they may not be interested anyway.

At any rate, if you pay your rent fortnightly, which should be an option, make sure you pay the correct weekly amount regardless of what the lease says about monthly rent. If they’ve used fox’s formula it should work out the same anyway.

I suggested to allhomes that they set up a user reviewing system for agents like ebay does, but I think they’d be too scared of losing their advertising $$$…

Anyway, REIACT do have a reward for excellence, so you can nominate good agents, even if there’s nowhere to shame the bad ones.

Holden Caulfield 11:00 am 19 Mar 10

Haha, “computer says no!”

buttons 10:49 am 19 Mar 10

While renting we had many issues with LJ Hooker in Gungahlin… rude rental staff and outrageous terms such as surprise inspections and drive bys… we used the Tribunal quite a lot and can’t speak highly enough of them.. keep trying to get a hold of them.. their hours are difficult but it’s well worth your time!

It’s funny now that the same agency is trying desperately to engage us as clients to sell our house… not likely!!

fox 10:14 am 19 Mar 10

In the ACT property managers are required to complete a Real Estate Registration, which involves completing a 7 week course. Real Estate Agents must complete it before entering into a sale contract, and property managers are required to take it as soon as practicable after starting their job.

Normally, agencies start new property managers on cases immediately and wait for the next round of training to begin before enrolling them. In my case it was a “wait and see” situation whereby the agency’s accountant wanted to make sure I was worth spending the course fees on before enrolling me.

Property managers have a high level of turnover because some get bored, and others move into sales (more moolah). Those that don’t complete/finish the course generally give the career a bad rep.

Jazz 9:59 am 19 Mar 10

Actually profession you’re talking about is property manager, not real estate agent.

There is a subtle but important difference.

Real estate agents buy and sell property on your behalf, and in the ACT have to be licenced and can be subject to harsh penalties (including jail time) for breach of certain codes of conduct.

Property managers mangage the rental and in many cases the maintenence of an investors proporty portfolio and have no such licencing requirements (hence the wildly varying experience renters have with them).

troll-sniffer 9:59 am 19 Mar 10

Well, two sides to every story, every estate agent would have a litany of stories of crap tenants, but that is still no excuse for treating good ones poorly.

I assume you are dealing with a reasonably sized enterprise, one with a dealer principal (whatever they’re called) who owns the business? The one who relies on reputation to further his business? I would find out who this head honcho is and demand a meeting to resolve what you believe are legitimate issues of how his or her agency treat clients.

You might find the tail of the dog doing some less obstreperous wagging affter that. If not then post back here with the name of the agency and any non-libellous information you have as to their business paractices.

fox 9:52 am 19 Mar 10

When I was a property manager (heaven forgive me), we worked out rent like this:

Weekly rent / 7 x 365 / 12

So if your rent is $375p/w it would actually be $1629.46 every month ($53.57 per day, $19553.57 per year)

I’m not sure about a database for bad agents, but word of mouth certainly makes a mark.

miz 9:39 am 19 Mar 10

It’d be a long list, if there was such a thing. I rented privately for over 10 years including a couple of years in the ACT, and no agents were what I would call ‘great’. Their ‘allegiance’ is never with the tenant but is always with the owner, as that’s where their money comes from – and it appears their ideal situation is to do as little as possible while raking in the property management moolah (which I understand costs the owners a pretty penny).

Doesn’t seem to matter whether you are a good tenant or not.

Buzz2600 9:34 am 19 Mar 10

Real Estate agents continue to amaze me. They treat you like *hit unless you’re selling (then you’re a god because you’re paying them an large commission). They don’t seem to get the fact that you may be a renter or buyer today but you’re also potentially a client looking to sell property tomorrow. There are a bunch of agents I wouldn’t use if my life depended on it. I’d certainly find a bad agent database useful …. but it would never get off the ground, you’d be sued before the day is out! Anyway, with the squeeze on rental properties, I doubt agents will improve any time soon.

prhhcd 9:05 am 19 Mar 10

I’m a landlord and I can tell you this: My tenants tell me all the time how bad it is with Agents. Yours doesn’t seem that bad. At least you’re not getting late night visits. My advice – rent privately. Its better. You get nice landlords like me. Sorry, I have nothing empty right now though.
When you buy the canberra times tomorrow, start from the back or look at allhomes.

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